$0.39 EPS Expected for Avangrid, Inc. (AGR) This Quarter
Wall Street brokerages expect Avangrid, Inc. (NYSE:AGR) to announce earnings of $0.39 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Avangrid’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.42. Avangrid reported earnings per share of $0.35 during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The company is expected to issue its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Avangrid will report full-year earnings of $2.22 per share for the current year, with EPS estimates ranging from $2.16 to $2.30. For the next financial year, analysts forecast that the firm will report earnings of $2.39 per share, with EPS estimates ranging from $2.28 to $2.48. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Avangrid.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Avangrid had a return on equity of 4.52% and a net margin of 11.25%. Avangrid’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Evercore ISI raised Avangrid from an “in-line” rating to an “outperform” rating and raised their target price for the company from $43.50 to $46.50 in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $46.10.
Avangrid (AGR) traded up 0.19% during trading on Friday, reaching $47.51. The company’s stock had a trading volume of 360,691 shares. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 21.78 and a beta of 0.51. The stock’s 50-day moving average is $47.37 and its 200 day moving average is $44.85. Avangrid has a 52-week low of $35.42 and a 52-week high of $49.04.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Thursday, September 7th. Avangrid’s payout ratio is presently 79.36%.
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Large investors have recently made changes to their positions in the company. Proficio Capital Partners LLC grew its holdings in shares of Avangrid by 102.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,367 shares in the last quarter. First Personal Financial Services grew its holdings in shares of Avangrid by 3.4% during the 2nd quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 94 shares in the last quarter. US Bancorp DE grew its holdings in shares of Avangrid by 106.3% during the 1st quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 1,475 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Avangrid by 20.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 546 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Avangrid during the 1st quarter worth approximately $227,000. 13.22% of the stock is currently owned by institutional investors.
Avangrid Company Profile
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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